What is the Service Sector?
The industrial world is divided into 3 sectors the primary, secondary and tertiary service sector. The primary sector deals with all the primary activities that contributes to country’s GDP for e.g: agriculture, fishing, mining, etc. The secondary sector deals with the manufacturing sector and the service sector deals with all the services provided. A highly dominant service sector is a sign of a well developed economy. Countries like U.S.A and Australia have this service sector as the primary contributor to the economy.
The service sector comprises of different kinds of services from the medical field, legal field, hospitality and tourism sectors, financial field, etc. The role of the service sector in the Indian economy is slowly and steadily growing and today we have more than 50% of the GDP contributed by this sector.
The service sector needs you to be an expert or a professional in a particular field to be able to provide services, for e.g you need to be a lawyer to provide legal services and a doctor to provide medical aid, any layman cannot claim to be a lawyer or a doctor and provide services in their place.
From the simple and basic forms of service like the job of a hair dresser or a waiter to the complex services provided by a chef or a chartered accountant all the services fall into this sector.
The service sector is highly complicated and different from the manufacturing sector and its marketing even more difficult. This is so because when you have to market and promote a product or a commodity you have physical evidence of the thing you wish to showcase and you can show it to your target customers but the legal services or the financial advisory cannot be shown, touched or felt by anyone and hence it becomes really difficult to market these services.
The reality that today’s world has to face is that the entire service sector needs as much marketing as any goods or commodity does and so this field needs to be managed really well. This sector comprises of those parts of the economy which are popularly known as the soft parts of the economy, where people provide their time and knowledge to improve the performance or productivity and can be termed as effective labor. There is no end product but there is an end result that is associated with this sector.
Teachers for students are the closet and most relatable examples of the service sector they provide their time and knowledge in providing knowledge to students. This sector can also act as an aid to the industrial sector, like providing transport and logistics facilities for the goods manufactured or pest control, packaging and quality checking services which can be provided by the manufacturing sector.
Popular examples of this sector include government, entertainment, telecommunication, hospitality, tourism, mass media, health care, banking, insurance, real estate and education and technology. In India with the IT boom, there has been major progress for this sector that has taken place. Since the millennium year India’s growth in this field has shot up and has led us to come to a situation where we are known and respected globally. Another field that has boomed the Indian service sector is the BPO’s and the KPO’s, business process and knowledge process outsourcing is big business and Indian’s are leading in this industry due to their English speaking abilities and vast youth population who wants quick money.
The education services, financial services and transport sectors have grown quite large in the past few years. Similarly the financial sector with banking and insurance in India has grown quite huge in fact by the year 2020 India could be among the top 3 countries in the world for the banking sector.
Medical tourism is yet another field in the map of India’s service sector that has gained popularity in the last decade. People from across the world come to India to avail its state of the art medical facilities, skilled and efficient doctors and affordable and cheap rates. Similarly tourism has also received a boom after the Incredible India campaigns were launched and the Indian tourism sector was promoted in the right way to the globe.
India has grown quite large as compared to its image of being the land of snake charmers and our phenomenal growth of the service sector in the past decade stands testimony to that fact.
Why should I Study this Subject?
A career in the service sector is what you are aiming for by studying for business studies at graduate level. Your post graduate level studies or future career as a manager or a business professional will be related to this industry and you need to be well aware of how the industry works if you wish to make a career in this field. The knowledge of this subject will help you as it is quite different from all the other subjects you have studied in your BMS up till now.
It is a subject that will help you understand what a career in marketing the service sector will be like and is quite important from that point of view as you will realize whether you want to take it up as a career option or not. It will help you consider this as a career possibility which you would not have thought of till now.
Is it Difficult?
Not at all, the difficulty level for this subject is moderate and if you have covered the entire syllabus for this subject then for you it will really easy to score very good marks in your University exam question paper.
Is it Boring?
No it is not at all boring, you will enjoy studying this subject a lot, even you lectures in college will be a lot of fun!
Do I need to join a coaching class for this Service Sector Management?
No, you do not need to join any class for this subject as learning and scoring good marks is easily possible if you pay a little attention in class and focus on your studies.
What is the Syllabus for this subject?
The syllabus for this subject can be divided into 5 Units which are as follows:
- Introduction to service marketing
- Key elements of service marketing
- Service quality
- Service management
- Current status and future prospects
For detailed syllabus you can click HERE!
Where can I get Notes for this subject?
- BMS.co.in Service sector management notes – 1
- Managementparadise.com Service sector management notes
You can the list of reference books for this subject HERE!
How Do I Study This Service Sector Management?
Since this is a subject for your University exam, I am sure your focus will not be just to pass, you will want to score really good marks in this subject. In order to score really well you must remember that your paper is going to be really easy unless you don’t study or the University decides to give you the BOMB PAPER in this subject.
Don’t know what a BOMB PAPER is?
Well it has been observed that the University gives one paper that is really tough in the 5th Sem and it is so bad that maximum students get a KT in that subject and all the other subjects are super easy, easier than you would have imagined.
In the year I gave my Sem 5 exams that was 2013-14 the Bomb paper was financial management and the year prior to that it was logistics, it’s like a trend that has been going on since ages and we must study for all the subjects really well so that we don’t become a casualty of the University’s Nuclear Warfare!
So take care that situation 1 does not occur and you will be saved in situation 2 as well! now how do we go about it?
The level of difficulty in this subject increases with every unit so the process to be followed while studying this subject is a bit different.
We recommend you take out 4 days and devote about 3-4 hours of your day and read through the entire textbook.
Choose some textbook that covers a lot of the syllabus but is not too bulky at the same time. Since this is your University exam you will surely need to refer more than one books but when you start, take up one textbook and spend 4 days in reading through the whole thing, even if you mess up and do not remember what was written in the previous chapters no problems try and take in as much as you can but read through the textbook completely.
Then start with the first unit and learn your answers in the system:
Long answers- Short answers- Distinguish- Concepts, once you do long answers a lot of the short answers and concepts get covered in the same so you need to do them well and then complete what is remaining.
Follow it up by solving the case studies as they play a vital role in helping you remember the answers.
This entire process should take about a month, including the 4 days of your reading in the beginning, but this is a pure theory subject and you do need to spend quality time in learning this subject because at the time of the exam you do not want to write answers of two-three lines and score poor marks due to lack of content to fill in.
You can follow this up by solving the important question papers from the past University exams/ you college prelim papers/ other college prelim papers and do your final revisions using the question banks that will be uploaded on BMS.co.in
For your internal exams about an hour a day devoted to studying the answers you have been given for the exam, a week before the exam is more than enough to help you score well.
If you are short on time and do not have a month to devote then you can go about this subject by following these steps:
- Read through the whole textbook.
- Take up past year’s University exams question papers/ you college prelim papers/ other college prelim papers and learn those answers.
- Do your final revisions using the question banks that will be uploaded on BMS.co.in
Tips to score Really Good Marks:
- Give examples, lots of examples which are related to your answers; it will make the examiner feel that you have studied well and will give you more marks.
- Presentation matters so do not forget your margins, highlighted points and bullet points for important answers.
- Make diagrams to explain concepts and long answers as and when possible as they give your answers a professional look.
- Practice writing answers before the exam so that you are able to complete your paper on time.
Problems I faced while attempting the University exam paper for Service Sector Management:
We got a few T.Y.BMS alumni to share with us the problems they faced while solving their papers and gave out solutions which you can use in case you face a similar issue while writing your paper.
1. I just blanked out due to the stress, my FM paper had gone really bad the previous day and so I was under immense stress. I did manage to pass but my grades took a dip! – Regretful Priya Shinde!
– If you face a situation like this where you blank out due to stress, then take a deep breath and relax. Start by reading the name of your subject on the question paper and for 5 minutes try and recollect what it means or what it deals with, so service sector will remind you of all the services available like banking, tourism, finance, etc.
Then with those thoughts in mind skim through the paper and find the one question you feel you have some idea about even if you can pen down 1-2 lines still take up that question and start writing, keep pushing your memory.
– Do not give up or start crying, instead try and recollect anything from your daily that connects with the subject and pen it down. Eventually you will be able to recollect all that you had learnt and start writing the paper again.
2. I could not complete my paper and scored less marks as I did not know how much to write where. – Dissapointed Ankit Shah
– You need to know the paper pattern before you enter the exam hall, make sure you know how many marks are allocated to which question and write as much as required. If you feel you have more information to write you can leave some blank space and take up the next answer. If time permits you can always go back and complete those incomplete ones. This will ensure you do not waste any time on extra and unnecessary writing.
3. Even though I attempted the whole paper I did not score as much as I had expected. – Annoyed Pankti Desai.
– Did you complete the entire paper? – Yes
Did you give appropriate examples and do the necessary margins and highlighting of key words? – No
Did you write answers in the proper sequence of Introduction – Answer- Conclusion? – No
Well now you know what separates a complete answer sheet from a well written answer sheet. Write your answers in the proper format and with necessary examples wherever you can add. Even if you can’t manage to make any of the frills of margins, underlining and the works within the stipulated time period you can simply write a neat paper and still score good marks.